New Delhi, July 02: The Government today approved USD 239.93 million as India’s contribution for setting up the South Asian University — the first international university in the country.
The approval for the amount, which is about 79 per cent of the total cost, was cleared at a meeting of the Union Cabinet, chaired by Prime Minister Manmohan Singh.
India is ready to release the first installment of USD 9.464 million to make the university operational here from next year, Minister for Information and Broadcasting Ambika Soni told reporters.
The university was proposed by the Prime Minister at the SAARC Summit in Dhaka in 2005.
External Affairs Ministry is making efforts to acquire 100 acres in South Delhi for setting up the university, she said.
The institution will impart advanced knowledge and provide facilities for research.
–PTI